AR/VR firm Cusmat receives funding from Venture Catalysts and others

Cusmat Technologies Pvt Ltd has raised seed funding for an undisclosed amount. The Hyderabad-based startup was founded by Abhinav Ayan, Anirban Jyoti Chakravorty, and Soumyaranjan Harichandan.

A training systems-focussed augmented and virtual reality firm, Cusmat Technologies Pvt Ltd, has raised seed funding for an undisclosed amount in a round led by startup incubator and accelerator Venture Catalysts. The fundraising round saw other participants which include Vaibhav Domkundwar, founder of early-stage venture firm Better Inc.; Pratap Atwal, director at Coronation Mining & Infra; and MapmyIndia chairman Rakesh Verma.

Hyderabad-based Cusmat was founded by Abhinav Ayan, Anirban Jyoti Chakravorty, and Soumyaranjan Harichandan. It uses AR, VR, and artificial intelligence to train and assess people working in enterprises.

Abhinav Ayan said that the company offers a cloud-linked, learning management system-integrated platform. This enables enterprises to standardize training processes across locations. It also helps them track, compare, and visualize skill-specific workforce competency levels, he said.

Venture Catalysts co-founder and president Apoorv Ranjan Sharma said Cusmat’s products have already garnered traction, adding that the company was well-positioned to take a lead in its market segment.

At present, Cusmat offers five training products that cater to at least 15 industries, including logistics, electronics, manufacturing, mining, steel, and pharmaceuticals.

Venture Catalysts has made several investments this year, despite the nationwide disruption caused due to the Covid-19 pandemic. The startup incubator and accelerator was set up in 2015 by Sharma, Anuj Golecha, Anil Jain, and Gaurav Jain. It invests between $250,000 and $1.5 million in early-stage startups, and provides networking and mentoring to its portfolio companies.